WEG (OTCMKTS:WEGZY) Releases Quarterly Earnings Results, Beats Estimates By $0.30 EPS

WEG (OTCMKTS:WEGZY) posted its earnings results on Wednesday. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.30, Zacks reports.

WEG Stock Up 2.5%

WEGZY traded up $0.24 during mid-day trading on Wednesday, reaching $9.69. 33,093 shares of the company traded hands, compared to its average volume of 61,018. WEG has a 52-week low of $6.40 and a 52-week high of $10.80. The stock has a market capitalization of $40.67 billion and a P/E ratio of 7.70. The company’s fifty day moving average price is $8.83 and its 200-day moving average price is $9.26.

Analyst Upgrades and Downgrades

WEGZY has been the subject of a number of recent analyst reports. The Goldman Sachs Group upgraded WEG from a “sell” rating to a “neutral” rating in a report on Tuesday, July 28th. Zacks Research upgraded shares of WEG to a “hold” rating in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

WEG Company Profile

WEG SA, trading in the U.S. over-the-counter as WEGZY, is a Brazilian multinational corporation specializing in the manufacture and distribution of electric motors, automation technologies and power generation equipment. The company’s portfolio spans low-, medium- and high-voltage electric machines, variable frequency drives and control systems designed for a wide array of industrial applications. WEG also offers transformer solutions and integrated automation products that support sectors including oil and gas, mining, pulp and paper, and infrastructure.

Founded in 1961 in Jaraguá do Sul, Brazil, WEG has grown from a small electric motor shop into one of the world’s largest industrial equipment manufacturers.